References

33 Liberty Street is the current home of the Federal Reserve Bank of New York. It is located in downtown Manhattan in New York City, New York State, USA. Built in 1924, it is where the monetary policy of the United States is executed by trading dollars and United States Treasuries. In addition, it reportedly holds 25% (unaudited) of the world's existing gold bullion, making it the largest known treasury in the world. The building was designated a landmark by the New York City Landmarks Preservation Commission on 01965-12-21 December 21, 1965.

The Building The overall importance of the structure lies in its vast size, fortress-like appearance, fine proportions and overall quality of construction. It set the precedent for many later banks which were greatly influenced by its design. Built from 1919 through 1924, this massive building occupies an entire city block, reaching fourteen stories tall with five additional floors underground. The stone exterior is reminiscent of an early Italian Renaissance palace with the horizontal and vertical joints of the stones deeply grooved or rusticated. The building was purposely designed to resemble a Florentine palazzo so as to inspire trust and confidence.

The Vault The vault rests on Manhattan's bedrock, 50 feet (15.24 m) below sea level. The weight of the vault and the gold inside would exceed the weight limits of any other foundation. The gold belongs to 36 governments and is stored for free, but every time a bar is moved, a handling fee is applied. There are elaborate procedures for the handling of the gold, with three different teams monitoring every transaction.